Move Your Feet
Walking Quote of the Day: “Everywhere is walking distance if you have the time.” – Steven Wright
Happy First Day of Spring, Mortgage Fans! If you haven’t set your clock ahead an hour yet you should really do it now.
Chaka Khan, Chaka Khan, Chaka Khan let me rock you, let me rock you Chaka Khan. (Can’t get this song out of my head and now it’s stuck in your head too. My apologies, Mortgage Fans).
A decent number of economic reports coming out this week that can sway interest rates in either direction. Today at 1:15 PM the Fed meeting adjourns; they most likely won’t change interest rates but every word Bernanke says in this press conference will be analyzed to death (i.e. how many people in the Fed agree with his keeping rates low, how long he should keep them low, and if he filled out his March Madness bracket). On Thursday we have Leading Economic Indicators which is a report that indicates future economic activity. I think this report will come in better than expected as my wife and I are about to blow our tax refund on a treadmill we’ll use for a month, blow off for years, and then try to sell on Craigslist for $100.
Interest rates were up last week but might be ready to drift down. There have been some panic/bank runs overseas, and that is always good for driving rates down here in the good ol’ U.S of A. 30-yr fixed remains in the mid-3s with ARM rates about a point lower.
Don’t forget to remember: Rates vary on type of home, equity in the home, credit score, and if you have a dog that looks like someone famous.
Walking Quote of the Day 2: “Quentin Tarantino always looks like he walked through a car wash.” – Alex Baze (@bazecraze)
Timeout for Trivia: Congrats to those of you who guessed Reese “I call my kids Reese’s Pieces” Witherspoon last week. Want to be entered into a drawing to win Stay-Puft feet pajamas? Simply email me the correct answer to this week’s “Who Am I?” question. Good luck “Tomorrow I turn 51. In the early 1990s I starred in a flick with Tom Hanks and Madonna, and then a year later in a sleeper of a film with Tom again. In 1994 my film career turned to rubble as critics hated this movie. After that I had a talk show where I would fawn over another supposedly gay actor.”